682 THIRTY—-SEVENTH CONGRESS. Szss. III. Ch. 58, 59. 1863. $§¤¤i¤:i¤¤ ¤¤d¢¤‘ in any state, either under s. special act of incorporation or a genera] ’“ “°banking law, may, at any time within -— years after the passage of this act become an association under the provisions of this act; that in such Pl;‘¤¤¤¤di¤z¤ i¤ case the certificate of association provided for by this act shall be signed °°° °"°‘ by the directors of such banking association or corporation, and in ad. ‘dition to the specifications required by this act, shall specify that such directors are authorized by the owners of two thirds of the capital stock of such banking association or corporation, to make such certificate of association, and such certificate of association shall thereafter have the same effect, and the same proceedings shall be had thereon, as is provided for as to other associations organized under this act. And such association or corporation tliereafter shall have the same powers and privileges, and shall be subject to the same duties, responsibilities and rules in all respects, as is [are] prescribed in this act for other associations organized under it, and shall be held and regarded as an association under this act. I 0,,,1,;,, axis?. ·Sec. 62. find be it further enacted, That any bank or banking associg£lg:¤:l¤:;wr¤;;¤§ Ztfgnélguthorized hly any Statehlaév to pngage the business of banking, fer them and W l y orbamze un er suc tate aw at the time of the passage of ceive circulating this act, and which shall be the holder and owner of United States bonds ¤°*°¤· to the amount of fifty per centum of its capital stock, may transfer and deliver to the treasurer of the United States such bonds or any part thereoh in the manner provided by this act; and upon making such transfer andfdehvery, such bank or banking association shall be entitled to receive rom the comptroller of the currency, circulatinv notes, as herein provided, equal in amount to eighty per centum of the amount of the bonds so transferred and delivered. rmvisions in Sec. 63. And belit further enacted That upon the failure of any such
ggizfctg ptate bank or banking association, to redeem any of its circulating notes
such c;,cu1,t;°,,_ issued under the provisions of the preceding section, the comptroller of the currency shall, when satisfied that such default has been made, and yvgtlgn tlnrtfy days after notice of such default, proceed to declare the n s trans erred and delivered to the treasurer forfeited to the United States, and the same shall thereupon be forfeited accordingly. And thereupon the circulating notes which have been issued by such bank or banking association shall be redeemed and paid at the treasury of the United Qtntes, in the same manner as other circulating notes issued under I the provisions of this act are redeemed and paid. mgoxggsgzfgitm vidige. 6; {nd be itdfurther enacted, That the bonds forfeited, as pro- ONO1d_ in- e aet prece mg section, may be cancelled to an amount equal to the circulating notes redeemed and paid, or such bonds may be sold, under the dnrecuon of the Secretary of the Treasury, and after retaining out of the proceeds a sum sufdcxent to pay the whole amount of circulating notes, for the redemption of which such bonds are held, the surplus, 1f' eny remains, shall be paid to the bank, or banking association from which such bonds were received. This act may Sec. 65. And be it further enacted, That Congress reserves the right
- p*;*3’eg"£*cl>° at any time, to amend, alter, or` repeal this act. ’
’ APPROVED, February 25, 1863. Feb. 25, 1863. CHAP. LIX.—An Ac! making Appropriations for the I 'sZat' E ee-uz' , dJ el`- ' '“' cial Expenses of the GODUHm€hf_fb7' the Year end£ng_ m·Hethv3un; eiyiiltrmnhuncllrcll and szxtgjbur, and for the Year ery/xleen hundred and sm.·ty·¢hree, and for other Purposes. ` Be it enacted ky the Senate and House of Representatives of the Unded aLc§;s1;;tiye, &c., States of America in Congress assembled, That the following sums be, and pp P ‘“ ‘°"”· the saxne are hereby, appropriated, out of any money in the treasury not otherwise appropriated, for the objects liereinafter expressed for the iiscal ypar ending the thirtieth of June, eighteen hundred and sixty-four, name y:
